Which of the Following Statements Concerning a Personal Articles Floater

question 59

Multiple Choice

Which of the following statements concerning a personal articles floater is false?

• A)A personal articles floater covers both scheduled and unscheduled property.
• B)Personal articles floaters typically cover all risks with no deductible.
• C)Personal articles floaters extend the dollar coverage on personal property beyond the limits set in the basic policy.
• D)A personal articles floater may take the form of either a separate policy or an endorsement to the original policy.

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Definitions:

Nondiscriminating

Policies or practices that do not selectively favor or prejudice any particular group or individual.

Imperfectly Competitive

Describes markets that do not meet the strict criteria of perfect competition, often characterized by having a small number of firms that have control over prices.

Marginal Revenue

The extra revenue generated from the sale of an additional unit of a product or service.

Demand Curve

A graphical representation of the relationship between the price of a good or service and the quantity demanded by consumers, typically downward-sloping, indicating an inverse relationship.